Recently, the most frequently asked question is——Why does BTC keep grinding at $90k without falling? Today I'm going to break this down completely.
To put it bluntly, the real purpose of this consolidation is "high-level chip rotation." What does that mean? It's about transferring the chips from retail investors who entered at $60k-$70k, got nervous after making 50%, and want to sell, into the hands of institutions or veteran investors who genuinely believe in BTC's long-term value and think $100k is just the beginning. Once this process is complete, the market's average holding cost will rise across the board, and the resistance to further upside naturally decreases.
Many people can't figure out——why don't big money players just pump the price directly? There's a reason for this. If there was a sudden surge right now, those low-cost profitable positions would sell into it, and once it reaches above $100k, this crowd would crash the market en masse, actually disrupting the momentum. Better to just oscillate in the $90k range, grinding away the retail investors' patience with time, until they voluntarily hand over their chips. Imagine the process of sifting sand—once you sift out the fine sand, the remaining coarse grains can build a truly stable "fortress wall."
Look at what on-chain data tells us: last week, BTC net outflows from exchanges reached 1.2 million coins, indicating more coins are moving from exchanges into personal wallets—a clear signal of accumulation. Meanwhile, the MVRV Z-Score indicator is now hovering at 0, meaning the current price is basically the market's average cost, with no serious bubble to speak of. Put these two data points together, and you can see——the current consolidation is actually a healthy chip turnover process.
The grinding is working as intended—when retail investors' psychology breaks, that's when you get on board.
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It's the same old high-position chip rotation tactic. Makes sense but the problem is I'm already out of chips.
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That sifting sand analogy is perfect. Now I'm just waiting to get sifted out.
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Once that net outflow of 12,000 coins data came out, I knew the whales were accumulating.
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Basically it's trading time for space. Those who can't hold out hand over their chips themselves. This game is brutal.
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MVRV touching the 0 line? That just means the current price is pretty reasonable, the bubble isn't that extreme.
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Rather than pumping directly, repeated shaking wears out retail investors numb. That tactic is really vicious.
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How much longer do we have to trade sideways? Can't take this torture anymore.
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Looking at on-chain data shows big money is seriously building positions. Small retail investors should face reality.
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Chip turnover and regeneration is the fancy term for it. Put bluntly, it's big fish eating little fish.
Recently, the most frequently asked question is——Why does BTC keep grinding at $90k without falling? Today I'm going to break this down completely.
To put it bluntly, the real purpose of this consolidation is "high-level chip rotation." What does that mean? It's about transferring the chips from retail investors who entered at $60k-$70k, got nervous after making 50%, and want to sell, into the hands of institutions or veteran investors who genuinely believe in BTC's long-term value and think $100k is just the beginning. Once this process is complete, the market's average holding cost will rise across the board, and the resistance to further upside naturally decreases.
Many people can't figure out——why don't big money players just pump the price directly? There's a reason for this. If there was a sudden surge right now, those low-cost profitable positions would sell into it, and once it reaches above $100k, this crowd would crash the market en masse, actually disrupting the momentum. Better to just oscillate in the $90k range, grinding away the retail investors' patience with time, until they voluntarily hand over their chips. Imagine the process of sifting sand—once you sift out the fine sand, the remaining coarse grains can build a truly stable "fortress wall."
Look at what on-chain data tells us: last week, BTC net outflows from exchanges reached 1.2 million coins, indicating more coins are moving from exchanges into personal wallets—a clear signal of accumulation. Meanwhile, the MVRV Z-Score indicator is now hovering at 0, meaning the current price is basically the market's average cost, with no serious bubble to speak of. Put these two data points together, and you can see——the current consolidation is actually a healthy chip turnover process.